Good trade for PRNs in August so far

In what is typically a quiet month for PRNs, scrap-ex are reporting that decent volumes have been traded in the past week.

The latest scrap-ex weekly PRN report shows that 2,000 glass PRNs were traded last week with the last trade at £8 per tonne. While the week before, 6,000 were traded.

500 plastic PRNs were traded and 2,000 wood PRNs.

The price of plastic PRNs was the only mover edging down a touch to a spread of £5.25 to £6 per tonne compared to £5.75 to £6.35 a week ago.

scrap-ex director Gareth Goodall said: “Volumes traded through the scrap-ex platform have been really good in what is typically a quiet holiday month.

“Glass bounced off this year’s lows of £7.65 to trade up in good volume at £8 with some players seeing this as a strong buying opportunity after the spike of late 2010.

“Plastic was a touch softer down at £5.25 again trading in large volumes. All eyes will once again be on Chinese demand as we get into Q4.

“A large clip of wood also traded at £1.50 with more buying interest around the £1.25 to £1.50 level. On the battery evidence (PBEN), buying interest was seen around the £225 to £250 range with sellers asking £300 plus.”